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"AI seems to have become the perfect excuse for technology firms to either cut headcount or in Rightmove’s case - underperform. If their AI roadmap is eroding profits, they need to rethink their strategy - fast."

Rightmove shares plummet over AI investment plans - BBC News

Source Summary

Rightmove's shares fell over 28% after the company announced a £60m investment in artificial intelligence, cutting profit growth forecasts for the next year. CEO Johan Svanstrom emphasized AI's central role in future plans, aiming for over 10% annual revenue growth by 2030. However, investors expressed skepticism about the timing and scale of the investment, leading to a significant drop in share value despite potential long-term benefits.

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